CEO of world's third largest insurer sees positive prospects for Italy despite political turmoil

March 16,2017 14:36

There are good prospects for the Italy, the third largest euro economy, despite being run by a caretaker government, the chief executive officer of Generali told CNBC. Italy will have a new general election either this year or the next following the ...and more »

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There are good prospects for the Italy, the third largest euro economy, despite being run by a caretaker government, the chief executive officer of Generali told CNBC.

Italy will have a new general election either this year or the next following the resignation of former Prime Minister Matteo Renzi after losing a public vote to carry on with structural reforms.

Despite the political uncertainty and the rising anti-establishment sentiment among Italian voters, Philippe Donnet, CEO, Generali told CNBC the "prospective is positive for Italy."

"Generally speaking, the government is pursuing the reforms that had been started by the previous government," he noted.

Donnet added that in the last year the troubled banking system has become more resilient after the government found a solution for the oldest lender in the world Monte dei Paschi di Siena.

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On Thursday, Generali, the third largest insurer in the world, increased its dividend for 2016 and promised to remain an independent company, despite reports of a possible takeover.

Donnet told CNBC the company doesn't have a specific number for people that it will have to make redundant but it is pursuing with its cost-cutting plan.

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